Retirement Plan Mismanagement

LHC Group 401(k) Plan Breach of Fiduciary Duties Class Action

This class action, against LHC Group, Inc., the LHC Group 401(k) Committee, and a group of individuals, alleges that these defendants mismanaged the company’s LHC Group 401(k) Plan. The complaint claims they paid excessive fees for services, chose more expensive share classes than they needed to, and maintained underperforming investment options in the plan when  Read more

Wells Fargo Challenged Funds in Retirement Plan Settlement

Wells Fargo & Company, Wells Fargo Bank, NA and their Employee Benefit Review Committee are paying more than $32 million to resolve a class action about its retirement plan under the Employee Retirement Income Security Act of 1974 (ERISA), alleging the defendants breached their fiduciary duties and engaged in prohibited transactions in connection with the  Read more

Baptist Health of South Florida 403(b) Plan Fiduciary Duties Class Action

The Employee Retirement Income Security Act (ERISA) “imposes strict fiduciary duties of loyalty and prudence upon employers and other plan fiduciaries[,]” says the complaint for this class action. It brings suit against Baptist Health of South Florida, Inc. (BHSF), its Board of Directors, and its Retirement Plan Committee, alleging that these entities breached those duties  Read more

Lowe’s 401(k) Plan Litigation Settlement

A partial settlement has been reached with Lowe’s Companies, Inc. and the Administrative Committee of Lowe’s 401(k) retirement plan, in a class action suit against these parties and Aon Hewitt Investment Consulting, Inc. The complaint alleged that the defendants breached their fiduciary duties to the plan under the Employee Retirement Income Security Act (ERISA) when  Read more

Novitex Enterprise Solutions Retirement Plan Settlement

Exela Enterprise Solutions, Inc. and the Novitex Enterprise Solutions Employee Benefits Committee are settling a class action alleging that the two did not perform proper oversight of the former Novitex Enterprise Solutions Retirement Savings Plan, which was ended in December 2018 when its assets were merged with the Source HOV 401(k) Plan, forming the Exela  Read more

WakeMed Retirement Plan Fiduciary Duties Settlement

WakeMed and its insurer are paying a little less than a million dollars to settle a class action alleging the company and other parties breached their fiduciary duties to the WakeMed Retirement Savings Plan. The complaint alleged that WakeMed chose and maintained certain mutual funds for the plan that were more expensive than other, similar  Read more

Northern Trust Retirement Plan Imprudent Investment Options Class Action

This class action brings suit against the Northern Trust Company and its Employee Benefit Administrative Committee and its members for failing to properly monitor and replace poorly-performing investment options in the company’s retirement plan, the Northern Trust Company Thrift-Incentive Plan. The complaint alleges that the defendants have breached their fiduciary duties under the Employee Retirement  Read more

Brenntag Profit-Sharing Plan Breach of Fiduciary Duty ERISA Settlement

This settlement resolves a class action against Brenntag North America, Inc., its Board of Directors, and its Investment and Oversight Committee. The complaint alleged that these parties breached the fiduciary duties of loyalty, care, and prudence owed to the Brenntag USA Profit-Sharing Plan, because they did not try to reduce the plan’s expenses or properly  Read more

Kaleida Health 403(b) and 401(k) Breach of Fiduciary Duties Class Action

This class action brings suit against Kaleida Health, its Board of Directors, its Retirement Plan Committee, and a number of related individuals, under the Employee Retirement Income Security Act (ERISA). The complaint alleges that these defendants breached their fiduciary duties to the company’s retirement plans by “incur[ring] expenses that were excessive, unreasonable and/or unnecessary.”  Read more

Cerner Corporation Retirement Plan ERISA Settlement

Cerner Corporation is paying more than $4 million to settle a class action alleging it breached its fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA) in connection with its retirement plan. The complaint alleged that the company offered unnecessarily expensive investment options, paid excessive administrative fees, and concentrated investments in Cerner  Read more